Market Report for Mission Viejo area

Market Report for Mission Viejo area


This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 4.2 percent, for new homes it is down 2.4 percent and for resale condos up 3.4 percent. The sales volume is up for resale homes 7.5 percent and up 11.9 percent on condos and down 31.4 percent for new homes.



Mission Viejo Zip Code 92691 sales prices are down 6.0 percent and the sales volume is down 5.5 percent.

Mission Viejo Zip Code 92692 sales prices are down 5.9 percent and the sales volume is up 38.3 percent.

Aliso Viejo sales prices are down 7.9 percent and the sales volume is up 18.3 percent.

Laguna Niguel sales prices are down 4.9 percent and the sales volume is up 47..7 percent.

Rancho Santa Margarita sales prices are down 19.6 percent and the sales volume is down 6.8 percent.

San Clemente Zip Code 92672 sales prices are up 26.5 percent and the sales volume is up 113.3 percent.

San Clemente Zip Code 92673 sales prices are down 10.6 percent and the sales volume is up 30.6 percent.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Bloggers Be Worried

Bloggers Be Worried

The FTC is beginning to move in on the bloggers and we should be worried. The Federal Trade Commission voted 4-0 to establish a new rule to regulate freedom of speech on the Web for bloggers and social media users.



An $11,000 fine could appear in your mail box from a federal official or a federal agent could knock at your door for violating the new rules. The rules may not seem to effect you now but this is the beginning of quiting down the blogosphere. The rules state that bloggers and social media must disclose any financial relationships they may have with companies or products they talk about in their posts. You are also required to disclose any gifts received by bloggers we need to be worried and concerned.



I personally do not get any gifts or do I promote products. That was just for the record.



Paid journalists will not have the same rules. They can get free books or movies before they write a review. This is an overreaching policy. Most of the blogs and the social network is simply friends talking to friends. This is beyond belief.



How do we protest a rule? Being worried does not change things. Watch the FTC closely.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Market Report for the Mission Viejo Area

The Market Report for Mission Viejo area:

What is the market report for the last 4 weeks? Let's look at the numbers. For the whole of Orange County resale home prices are down 3.1 percent, New home prices are down 2.9 percent and resale condos are fairly level at 0.3 percent down. The number of sales or sales volume for resale home sales are down 1.1 percent resale condos sales are up 0.6 percent and new homes are also down 0.6 percent.



Mission Viejo zip code 92691 prices are up 3.0 percent and the sales are down 24.6 percent.

Mission Viejo zip code 92692 prices are down 24.8 percent and the sales are up 11.7 percent.

Aliso Viejo prices are down 2.1 percent and the sales are up 3.2 percent.

Laguna Niguel prices are up 0.9 percent and the sales are up 9.2 percent.

Rancho Santa Margarita prices are down 10.8 percent and the sales are up 17 percent.

San Clemente zip code 92672 prices down 9.1 percent and the sales are up 75 percent.

San Clemente zip code 92673 prices are down 7.1 percent and the sales are even no change.

It is still difficult to make any long range predictions on this market a report from a Mission Viejo Realtor.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mallorca Homeowner Association in Mission Viejo Asked For What?

What was it that the Mallorca Homeowners Association asked the City of Mission Viejo to pay for?


Did you know that the Mallorca Homeowners Association asked the City of Mission Viejo to take over landscape maintenance of the slops owned by the association.



The slopes that the Mallorca Homeowners Association asked about, line Marguerite Parkway from Ameno to Vista Del Lago and amount to about 5 acres.



The agenda report written by Keith Rattay, the city's director of public services, the city has been asked by Mallorca Homeowners Association on other occasions.



The Mallorca Homeowners Association  asked the city of Mission Viejo to take over the landscape maintenance of the slopes, proposing that the city pay the bill to landscape and the Mallorca Homeowners Association would pay the cost to transfer the water and electricity to the city.



The estimated cost to the city would be $32,000 per year and an additional $350,000 to $420,000 to rehabilitate the land.



At the meeting many speakers balked at the idea that the city would pay to maintain someone elses property. Councilwoman Cathy Schlicht commented, "I believe they're walking away from their responsibility by asking the city to take over the property".



In the end Mission Viejo denied the request to maintain the lands owned by the Mallorca Homeowners Association.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Consumer Credit Fell

Consumer credit fell in August as banks tighten the credit and cause 7th straight month of keep consumers from getting to more credit. The consumer is reluctant ot borrow due to job losses and uncertainty in the market place. The total package of restrictive lending terms and the job situation causes the banks reluctance and the consumer is also reluctant to borrow or lend. That is the reason Consumer Credit Fell.



The consumer credit fell by 12 billion or 5.8 percent at an annual rate, to 2.46 trillion according to the Federal Reserve report released Wednesday. These continued drops month to month are the longest since 1991.



The demand for credit has had a sever drop families are trying to pay down debt and not interested in taking on debt. Revolving credit such as credit cards ddecreased by 9.91 billion. If this continues it will put the consumer in a better economic condition, but it will shrink the over all economy in a recession. It is not good in the long run.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Market Report for Mission Viejo area

What is the report for the last 4 weeks? Let's look at the numbers. For the whole of Orange County resale home prices are down 3.1 percent, New home prices are down 2.9 percent and resale condos are fairly level at 0.3 percent down. The number of sales or sales volume for resale home sales are down 1.1 percent resale condos sales are up 0.6 percent and new homes are also down 0.6 percent.

• Mission Viejo zip code 92691 prices are up 3.0 percent and the sales are down 24.6 percent.

• Mission Viejo zip code 92692 prices are down 24.8 percent and the sales are up 11.7 percent.

• Aliso Viejo prices are down 2.1 percent and the sales are up 3.2 percent.

• Laguna Niguel prices are up 0.9 percent and the sales are up 9.2 percent.

• Rancho Santa Margarita prices are down 10.8 percent and the sales are up 17 percent.

• San Clemente zip code 92672 prices down 9.1 percent and the sales are up 75 percent.

• San Clemente zip code 92673 prices are down 7.1 percent and the sales are even no change.

It is still difficult to make any long range predictions on this market.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Recall Election in Mission Viejo

A special recall election petition had over 9,538 signatures were validated for Mission Viejo Councilman Lance McLean. It was reported Friday, October 2nd in the Saddleback Valley News. There had been over 14,000 signatures turned in and 12,871 signatures were verified and of those 9,538 turned out to be valid for the Recall Election in Mission Viejo.



The reason for those in favor of the recall election in Mission Viejo is alledged:

• finacial mismanagement in voting for deficite spending last year,
• false promises for voting to increase housing density.
• violence, anger and incivility regarding an assault arrest and outburst at a former councelwoman.

As with all special elections this recall election in Mission Viejo will have a cost. It will be $43,268.40 for the verification process and the special election is estimated to cost $227,000.



The City Council is scheduled to certify the Registrar's results October 5, 2009.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!